May, 2016

• 4 May

  Blackstone in talks for Sime Darby’s Oz assets

    Bloomberg Blackstone Group LP is in talks to acquire industrial property assets in Australia valued at about A$250 million ($190 million) from Malaysian palm-oil producer Sime Darby Bhd., according to people familiar with the matter. The New York-based private equity firm is in discussions to acquire as many as five industrial buildings in Australia, the people said, asking not ...

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• 4 May

  Manhattan’s condo developer speeds up in slowing market

  

    Bloomberg While a luxury-condo glut spurs some of New York’s biggest developers to re-evaluate their plans, a relative newcomer is plowing ahead with confidence. Michael Shvo, a former real estate broker who closed his eponymous firm during the financial crisis, says he has about $4.3 billion worth of apartments under development and two more sites in contract. He’s trying ...

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• 4 May

  Next cuts sales outlook as spending stance worsens

  

    Bloomberg Next Plc, the British clothing retailer, cut its sales forecast for the second time this year after reporting first-quarter revenue that missed estimates on unfavorably cold spring weather, sending another chill over the embattled UK apparel sector. Next now expects full-year sales to fall within a range of negative 3.5 percent and 3.5 percent growth due to weaker ...

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• 4 May

  Sainsbury profit tops as it outpaces peers

  

    Bloomberg UK supermarket chain J Sainsbury Plc reported annual profit that beat estimates as the company outperformed peers in a market blighted by deflation and discount competition. Operating profit fell 11 percent to 700 million pounds ($1.02 billion) in the 52 weeks ended March 12, the country’s second-biggest grocer said in a statement Wednesday. Analysts expected 683.4 million pounds, ...

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• 4 May

  Air France-KLM trims loss, warns of turbulence

  

    Paris / AFP Air France-KLM announced on Wednesday it had trimmed losses in the first quarter of 2016 but the airline said passenger traffic to Paris had been affected by terror attacks in Europe and it warned of a difficult year ahead. The Franco-Dutch group warned of doubts over fuel prices, some bloated routes and uncertainty over the economic ...

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• 4 May

  Gol advices its bondholders as airlines struggles

  

    Bloomberg Gol Linhas Aereas SA is offering to exchange $780 million of dollar-denominated notes for new securities maturing over a decade, as the Brazilian airline struggles to reshape its finances amid a deepening recession in the domestic market. Bondholders of five different tranches of debt, one of them maturing as early as next year, are being asked to accept ...

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• 4 May

  No fees on excess bags last great flight deal

  

    Bloomberg A low-cost, low-fare carrier such as Spirit Airlines Inc. makes its living on passenger fees. That those fees, known as non-ticket revenue, dropped by more than $2 per passenger in the first quarter, compared to a year ago, might suggest a shift in travellers’ tolerance for additional charges. Spirit blames its sagging fee tally on low fares; travellers ...

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• 4 May

  Bangkok’s ‘chaotic charm’ under threat

  

    Bangkok / AFP For nearly a century, Thanuan has watched history sweep through the bustling maze of alleyways that make up Bangkok’s Chinatown, one of the city’s few districts yet to be devoured by malls and high-rise condos. But change is coming — and fast. A new metro service will soon plough straight into the heart of the historic quarter, ...

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• 4 May

  Meet the next sport of the modern age: Drone racing

  

    HAWTHORNE, Calif. / AP Decked out in high-tech goggles, pilot Steve Zoumas dives low and sees the final gate zooming toward him — a 20-foot-tall metal-framed box ringed with neon. Boom! His sight goes black. The crowd lets out a collective “Whoa!” as pieces of his aircraft, which has just smashed into a concrete barrier, go flying. Zoumas is just ...

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• 4 May

  Mitsumi: Diversifying with strong vision

  

    Our Correspondent/ Emirates Business MITSUMI is an authorised distributor for leading global IT hardware and software brands. It was found in Nairobi, Kenya, in 1996. However, over the past19 years, the company has established 10 warehouses and eight service centers in Africa and a strategic motherhub warehouse located in Jebel Ali, Dubai. While earning a good name in the ...

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